CORDONA WIND: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
CORDONA WIND
NACE 35.110, Production of electricity from non-renewable sources
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€397,533
2025 · -€472,850+€870,383
Equity
€3.7m
2025 · €3.3m+€397,533
Cash
-
2025 · €16,887-€16,887
Balance sheet total
€7.7m
2025 · €8.3m-€615,683
Largest movements
Assets
- Tangible fixed assets -€870,446
down €870,446 (-11.7%), from €7.4m to €6.5m
- Receivables within one year +€268,417
up €268,417 (+30.9%), from €868,025 to €1.1m
of which Trade receivables: +€192,572
Equity and liabilities
- Debts after one year -€1.0m
down €1.0m (-28.6%), from €3.6m to €2.5m
- Profit (loss) carried forward +€391,533
up €391,533, from -€278,042 to €113,491
Income statement
- Turnover +€798,663
up €798,663 (+70.5%), from €1.1m to €1.9m
- Services and other goods -€43,257
down €43,257 (-8.6%), from €505,322 to €462,065
- Financial charges -€40,353
down €40,353 (-20.2%), from €199,370 to €159,017
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2025
-€472,850
Turnover
+€798,663
Other operating income
+€1,180
Services and other goods
+€43,257
Depreciation
-€12,012
Other operating charges
-€1,057
Financial income
-€1
Financial charges
+€40,353
Result 2026
€397,533
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€999,632
Investment
€0
Financing
-€1.0m
Cash 2025
€16,887
From operations (derived)
+€999,632
Net result for the year
+€397,533
Depreciation
+€870,446
Receivables within one year
-€268,417
Deferred charges and accrued income
-€3,234
Provisions
+€35,831
Trade debts
-€18,488
Accrued charges and deferred income
-€14,040
Financing
-€1.0m
Debts after one year
-€1.0m
Cash 2026
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,336,048 | €7,720,366 | -€615,683 | -7.4% |
| Fixed assets | 21/28 | €7,417,344 | €6,546,899 | -€870,446 | -11.7% |
| Tangible fixed assets | 22/27 | €7,417,344 | €6,546,899 | -€870,446 | -11.7% |
| Plant, machinery and equipment | 23 | €7,417,344 | €6,546,899 | -€870,446 | -11.7% |
| Current assets | 29/58 | €918,704 | €1,173,467 | +€254,763 | +27.7% |
| Amounts receivable within one year | 40/41 | €868,025 | €1,136,441 | +€268,417 | +30.9% |
| Trade receivables | 40 | €232,831 | €425,403 | +€192,572 | +82.7% |
| Other amounts receivable | 41 | €635,194 | €711,038 | +€75,845 | +11.9% |
| Cash at bank and in hand | 54/58 | €16,887 | - | -€16,887 | |
| Deferred charges and accrued income | 490/1 | €33,792 | €37,026 | +€3,234 | +9.6% |
| Total equity and liabilities | 10/49 | €8,336,048 | €7,720,366 | -€615,683 | -7.4% |
| Equity | 10/15 | €3,295,458 | €3,692,991 | +€397,533 | +12.1% |
| Contributions | 10/11 | €3,388,500 | €3,388,500 | = | 0.0% |
| Capital | 10 | €3,388,500 | €3,388,500 | = | 0.0% |
| Issued capital | 100 | €3,388,500 | €3,388,500 | = | 0.0% |
| Reserves | 13 | €185,000 | €191,000 | +€6,000 | +3.2% |
| Non-distributable reserves | 130/1 | €185,000 | €191,000 | +€6,000 | +3.2% |
| Legal reserve | 130 | €185,000 | €191,000 | +€6,000 | +3.2% |
| Profit (loss) carried forward | 14 | -€278,042 | €113,491 | +€391,533 | |
| Provisions and deferred taxes | 16 | €230,611 | €266,442 | +€35,831 | +15.5% |
| Provisions for liabilities and charges | 160/5 | €230,611 | €266,442 | +€35,831 | +15.5% |
| Environmental obligations | 163 | €230,611 | €266,442 | +€35,831 | +15.5% |
| Amounts payable | 17/49 | €4,809,980 | €3,760,933 | -€1.0m | -21.8% |
| Amounts payable after more than one year | 17 | €3,557,816 | €2,541,297 | -€1.0m | -28.6% |
| Financial debts | 170/4 | €3,557,816 | €2,541,297 | -€1.0m | -28.6% |
| Other loans | 174 | €3,557,816 | €2,541,297 | -€1.0m | -28.6% |
| Amounts payable within one year | 42/48 | €1,121,768 | €1,103,280 | -€18,488 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €1,016,519 | €1,016,519 | = | 0.0% |
| Trade debts | 44 | €105,249 | €86,761 | -€18,488 | -17.6% |
| Suppliers | 440/4 | €105,249 | €86,761 | -€18,488 | -17.6% |
| Accrued charges and deferred income | 492/3 | €130,396 | €116,356 | -€14,040 | -10.8% |
| Operating income | 70/76A | €1,184,520 | €1,984,364 | +€799,843 | +67.5% |
| Turnover | 70 | €1,132,120 | €1,930,784 | +€798,663 | +70.5% |
| Other operating income | 74 | €52,400 | €53,580 | +€1,180 | +2.3% |
| Operating charges | 60/66A | €1,458,002 | €1,427,814 | -€30,187 | -2.1% |
| Services and other goods | 61 | €505,322 | €462,065 | -€43,257 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €858,434 | €870,446 | +€12,012 | +1.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €35,831 | €35,831 | = | 0.0% |
| Other operating charges | 640/8 | €58,415 | €59,473 | +€1,057 | +1.8% |
| Operating profit (loss) | 9901 | -€273,481 | €556,549 | +€830,031 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.8% |
| Income from current assets | 751 | €0 | €0 | = | 0.0% |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Financial charges | 65/66B | €199,370 | €159,017 | -€40,353 | -20.2% |
| Recurring financial charges | 65 | €199,370 | €159,017 | -€40,353 | -20.2% |
| Debt charges | 650 | €198,485 | €158,627 | -€39,858 | -20.1% |
| Other financial charges | 652/9 | €884 | €390 | -€495 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | -€472,850 | €397,533 | +€870,383 | |
| Profit (loss) for the period | 9904 | -€472,850 | €397,533 | +€870,383 | |
| Profit (loss) for the period to be appropriated | 9905 | -€472,850 | €397,533 | +€870,383 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.